Hoboken, NJ Real Estate News

By Edward Perez
(Sothbey's International Realty)
 1. Setting the Price too High The single biggest mistake folks make is setting their asking price too high. In today’s down market homeowners need to price conservatively or they risk turning off potential buyers. Figuring out how to set the price is tricky. Gone are the days when you can expect to sell your home for as much as your neighbor did just six months ago.. So rather than looking at how much homes in your area sold for six to 12 months ago, compare prices for similar properties currently on the market. If you see a listing for a house that’s sitting unsold for a few months, chances are the owners are asking too much and you’ll want to set your price lower. 2. Questioning the First Offer Too many sellers reject their first offer, even if it’s close to or at full asking price....
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By Edward Perez
(Sothbey's International Realty)
22 properties had their prices reduced last week.  Better prices + better interest rates = great values for you! Take a look…. 1 BEDROOM There are 6 price reductions starting at just $398,000 Click Here to View Listings 2 BEDROOM 13 condos were reduced last week.  Selection starts with an uptown 2 bed / 2 bath at $384,400. Click Here to View Listings  3-4 BEDROOM  2 condos were reduced starting at $564,777 Click Here to View Listings 1-4 FAMILY HOMES A one family home at 1117 Garden St was just reduced by $100K to $1,099,000. Click Here to View Listings These are last weeks price reductions.  To search the entire MLS log onto http://www.InvestHoboken.com  and go to Browse Hoboken Listings. Eddie  
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By Edward Perez
(Sothbey's International Realty)
Weekly statistics 1/11/09- 1/18/09 We had a very cold week in Hoboken.  Just ask the passengers of the US Airways flight that landed safely in the Hudson River.  I happened to be traveling to Seattle that day, the same ultimate destination of that flight, otherwise I might have witnessed the landing from my living room window.  Scary but ultimately a good ending. Our real estate market also is still scary for many folks but to those willing to brave the chill of the market, they to will ultimately have a good ending as well. Affordability is fantastic with great deals on lots of nice homes.  Interest rates are supper low.  I’ve found 30 year fixed rate mortgages as low as 5.14% at Bankrate.com. If you are ready, able AND willing….you can move into your dream home at a good discount.   A...
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By Edward Perez
(Sothbey's International Realty)
Find a mover who is local When a moving company is local it makes it easier for you to check out the company, get references from people and even check out the facilities.  Don’t book your move with an Internet broker; most just hand your business over to someone you know nothing about. Be sure to go with a licensed mover This is easy to find out. If you are moving within the state, your state is responsible for licensing. Check your state’s website for information. If you are moving to another state, check with the Federal Department of Transportation to find out if the company is legitimate. Many companies affiliated with a national van line use the van line’s license and insurance when doing interstate moves. Check with the Better Business Bureau A responsible mover may have a few c...
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By Edward Perez
(Sothbey's International Realty)
Plan Ahead Walk through each room and criticize the home from a buyer’s perspective. Consider getting a professional home inspection and make necessary repairs. Sell, donate or trash anything you don’t need. Clean, Declutter and Depersonalize Steam clean carpets and drapes. Get rid of all dust. Paint interior walls with neutral colors, like beige, cream or light pastels Repair cracks and holes in the walls. Pale blues and greens are good for bathrooms. Remove excess and oversized furniture. Rearrange furniture to maximize space. Organize room closets and store out-of-season clothes. Thoroughly clean the entire home. Scrub tile in the kitchen and bathrooms. Clean hardwood floors. Secure valuable items, including cash and jewelry. Remove all small appliances, toys, magazines and pet item...
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By Edward Perez
(Sothbey's International Realty)
Take a browse through all of last weeks Hoboken real estate price reductions.  With interest rates so low, make a move now is looking great. Happy Shopping! 1 BEDROOM There are 8 price reductions starting at just $319,000 Click Here to View Listings  2 BEDROOM 30 condos were reduced last week.  Nice selections starting at $424,900 so take a look Click Here to View Listings  3-4 BEDROOM  5 condos that are at least 3 bedrooms had their prices slashed.  Starting at $564,777 Click Here to View Listings  1-4 FAMILY HOMES 2 one family homes and 1 three family home were reduced.  Time to move up? Starting at just $699,000 Click Here to View Listings  These are last weeks price reductions.  To search the entire MLS log onto http://www.FindHobokenHomes.com  Eddie
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By Edward Perez
(Sothbey's International Realty)
  Magnificent 2100 sqft three bedroom, two-and-a-half bath duplex designed for grand city living and entertaining. Custom designed gourmet eat-in-kitchen has direct access to your wonderful terrace with gas, electric and water service. This masterpiece is complete with Thermador, Sub-Zero and Meile appliances and is created with the finest of materials. Dramatic formal dining room and large living room each have their own wood-burning fireplaces. Access to the terrace is also available from the dining room. A tasteful powder room finishes off your first floor. Santos Mahogany wood graces the floors of your home and is used to create the lovely staircase to your living quarters. Upstairs youll find your stunning master bedroom / bathroom retreat, 2 generous sized additional bedrooms and ...
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By Edward Perez
(Sothbey's International Realty)
Presidential Inauguration Viewing  On January 20th beginning at noon, the library will host a televised showing of the presidential inauguration of Barack Obama.  More than two million people are expected to come down to Washington DC for this historic event.  The library viewing will take place on the third floor in the back programing room.  Light refreshments will be served. Book Discussion  On January 20th, at 6:00,  join us for a discussion of Eat, Pray, Love by Elizabeth Gilbert.  After a major life event, the author of this touching memoir traveled to Italy, India, and Indonesia trying to find balance in her life and a better understanding of herself. This book discussion was postponed from December due to inclimate weather on the original date.  Registration is required. Call 2...
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By Edward Perez
(Sothbey's International Realty)
Following are easy and inexpensive design ideas for decorating to make the most of the space in your home.  Mirrors Hang a mirror high enough on the wall so it does not reflect the clutter of the room. Above eye level is best. If high wall placement is impossible, lean the mirror on a shelf or mantel so that it tips upward slightly. If the mirror is hung too low and reflects the contents of the room, it will make the room look smaller. Add Light to Your Rooms Make sure the window treatments you choose for a room are hung to let in as much light as possible. When curtains or blinds are open, they should clear the window so the light is not blocked. Even as little as an inch or two can make a difference. Also, hang the window treatments as high on the wall as possible. This will create t...
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By Edward Perez
(Sothbey's International Realty)
Don’t bother with major renovations before selling. Huge construction projects are unlikely to bring you a big return when you sell. Small effective updates will improve the look of your home and are more likely to increase your sale price. Be sure to provide easy access for showings. Selling your home is all about getting buyers through the door, so don’t make any part of the process difficult. Clean up your home so you can be ready for a showing at a moment’s notice, and make your home available to buyers and agents at any time. Never forget the little things, like easy access to parking. If a buyer is looking at several similar listings, it is the small things could push your home to the top of the list. Remember to showcase your home’s best features. Your home furnishings suit you ...
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By Edward Perez
(Sothbey's International Realty)
Is the arrival of the New Year giving you thoughts about selling your home?  If you are thinking about updating your home in 2009 for aquick sale, you may be interested in the following information. In an up-and-down real estate market it’s important to make the right decisions when it comes to updating your home. Find out how the top 10 home improvements rank.  TOP TEN HOME UPDATES                                                                         Average Return 1    Minor Bathroom Remodel                     102% 2    Minor Kitchen Remodel                        98.5% 4    Major Bathroom Remodel                   93.2% 5    Major Kitchen Remodel                             91% 6    Improvements to Balcony/Deck       90.3% 7    Extra Room Updates                                72...
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By Edward Perez
(Sothbey's International Realty)
Twas the night before Christmas when all through the house.  Not a creature was stirring, not even a buyer. Really, it’s been a slow week for price reductions however see if  the perfect one for you is under the tree! Happy Christmas to all and to all a good night!  1 BEDROOM  There are 5 price reductions starting at just $375,000 Click Here to View Listings  2 BEDROOM 3 condos were reduced last week.  Quite a difference from the 20 reductions of the previous week..   Click Here to View Listings 3-4 BEDROOM A nice 3 bedroom row house on Willow Terrace was just reduced to $725,000. Click Here to View Listings  8 bedroom / 4 bathroom Hudson St. home One of Hoboken’s largest and grandest homes sits at the corner of Hudson St & 8th. Reduced to $2,250,000 and includes parking for 2 cars. Cl...
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By Edward Perez
(Sothbey's International Realty)
  Weekly statistics 12/14/08- 12/21/08 Ok….we are chugging along.  The condos are not exactly flying off of the market however we remain a market full of opportunities for savvy buyers and investors.  Rates had hit 37 year lows as well.  I have seen 30 year fixed rate conforming loans (up to $417,000) for borrower with good credit (720 FICO score or above) in the 4.78 range.   Thats simply AMAZING!!!!!!!! Here’s last weeks activity….. Firm accepted offers: The Hoboken condo market had a total of 5 firm accepted offers last week which is slightly better than the  4 units that went to contract in the previous week. 1 BEDROOM 1 condo received an accepted offer Click Here to View Listings This was listed at $300,000 and has been on the market for 46 days. 2 BEDROOMS 4 condos had accepted of...
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By Edward Perez
(Sothbey's International Realty)
20 new condo listings hit our Multiple Listing Service (MLS) in the last week.  11 of these were on the market but not listed on the the MLS as they are being marketed by Toll Brothers and are in phase II of Maxwell Place. These homes at 1125 Maxwell Place represent one of the finest waterfront locations and amenities available in the New York metro region.  Some have excellent NYC views and are priced in the $600 per square foot range which seems to be an excellent value for prime waterfront community living.  Take a look at them all!  1 BEDROOM CONDOS 9 new listings starting $319K Click Here to View Listings 2 BEDROOM CONDOS 10 new listings starting at $465K Click Here to View Listings  3 BEDROOM CONDOS  1 amazing brand new 3100 square foot townhome right at the waters edge with dire...
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By Edward Perez
(Sothbey's International Realty)
  Some very nice properties had their prices reduced during the past week.  With mortgage rates recently having been lowered, the values are even better! There were a total of 31 Hoboken condos that had their prices reduced last week.  See if one is the perfect place for you!  1 BEDROOM  There are 7 price reductions starting at just $299,900 Click Here to View Listings  2 BEDROOM 20 homes in the 2 bedroom configuration were reduced last week.  A nice 2 bed / 2 bath at 118 Clinton starts at $399,000. Click Here to View Listings  3-4 BEDROOM Just 3 homes in this category starting at $725,000. Click Here to View Listings These are last weeks price reductions.  To search the entire MLS log onto http://www.FindHobokenHomes.com Happy shopping!    
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By Edward Perez
(Sothbey's International Realty)
  WEEKLY STATISTICS 12/07/08- 12/14/08  We are definitely in the seasonal slowdown for condo purchases as we enter closer to the holidays and new year.  It’s a great time to seek excellent values.  Also, mortgage rates have become even more affordable.  Here is last weeks stats. FIRM ACCEPTED OFFERS: The Hoboken condo market had a total of 4 firm accepted offers last week which is slightly off of the 6 units that went to contract in the previous week.  1 BEDROOM None in this category  2 BEDROOMS 3 condos had accepted offers Click Here to View Listings Average listing price is $711,633 and average days on market is 76 days.  One of these condos was at 1025 Maxwell Lane (1st Phase of Maxwell Place) that was listed at $980,000. 3-4 BEDROOMS: 1 condo had a firm offer Click Here to View List...
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By Edward Perez
(Sothbey's International Realty)
Following are two holiday events happening in Hoboken this weekend: A Christmas Carol - Theater DeBaun Center for Performing Arts is proud to present The Theater Company’s fourth annual production of A Christmas Carol. The show will run for two consecutive weekends on December 12 & 19, 2008 at 8pm and December 13, 14, 20 & 21, 2008 at 3pm. A Christmas Carol is the story of an old, bitter miser—Ebenezer Scrooge—and the chance for his redemption through the visitation of three timely ghosts and a partner from the past who learned his lesson too late. With traditional carols and English folk tunes creating the proper atmosphere, the world of Scrooge, Tiny Tim and old England comes alive, igniting the holiday spirit for young and old alike.  In addition to DeBaun Center’s holiday tradition...
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By Edward Perez
(Sothbey's International Realty)
  Weekly statistics 11/30/08- 12/07/08 FIRM ACCEPTED OFFFERS: The Hoboken condo market had a total of 6 firm accepted offers last week which is the same amount as the previous one. 1 BEDROOM 1 condo had firm offer  Click Here to View Listings Very unique approximately 1400 sqft 1 bedroom with two additional rooms, private roof deck. Listing price was $679,000. 77 days on market to accept offer 2 BEDROOMS 4 condos had accepted offers Click Here to View Listings Average listing price is $519,749 and average days on market is 77 days  3-4 BEDROOMS: 1 condo had a firm offer Click Here to View Listings Listing price was $599,999 and this has been on the market 42 days. SOLD CONDOS:   Total of 5 condos closed last week.  Down from last weeks 10 closings. STUDIOS: None sold in this category 1 ...
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By Edward Perez
(Sothbey's International Realty)
There were a total of 24 Hoboken condos that had their prices reduced last week.  See if one is the perfect place for you! 1 BEDROOM There are 8 price reductions starting at just Wow……$219,000 Click Here to View Listings  2 BEDROOMS  A few more 2 bedroom condos were reduced last week.  13 homes here starting at $459,000. Click Here to View Listings  3-4 bedroom  Just 2 homes in this category starting at $485,000. Click Here to View Listings These are last weeks price reductions. To search the entire MLS log onto http://www.FindHobokenHomes.com  Happy shopping!  Eddie
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By Edward Perez
(Sothbey's International Realty)
  Hoboken’s best luxury condos have been offering incentives for some time now.  Here’s an example of this week’s at The Hudson Tea Building.      Hudson Tea/Harborside Lofts   Hoboken, NJ     Hudson Tea Home for the Holidays!   Residence 3G 1,385 Sq Ft 2 Bedroom /2 Bath $989,995 Builder’s special promotion spec unit features direct Manhattan views, and has been fully upgraded with beautiful hardwood floors, granite countertops, high-end stainless steel appliances and new window coverings! Buy now and receive a new Home Theatre Package!     Spectacular Waterfront Loft Condominiums from the Mid-$400s   Studios 735 Sq Ft Mid-$400s to Mid-$600s              1 Bedroom* 1000 Sq Ft $595,995 1 Bedroom + Den* 1100 Sq Ft $656,995              2 Bedrooms 1145 Sq Ft to 1530 Sq Ft Low $700s to $1.4...
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